World of Procurement blog

MAY 10, 2024

The Promise of AI for Procurement Teams Artificial intelligence (AI) has the potential to transform and revolutionize procurement processes. This frees up procurement professionals to focus on high-value strategic activities. AI-driven spend analytics provide the foundation for data-based decision making in procurement.

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Una

JULY 28, 2022

This is particularly true in terms of the procurement function. Is your procurement team territorial? Does your procurement team behave like a snapping saltwater crocodile? They know what software they want and can be highly resistant when the procurement team attempts to get involved in the purchasing decision.

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IBM Supply Chain Blog

FEBRUARY 28, 2024

They consider factors—like supplier performance or sustainability —that support long-term partnerships, advance business needs and increase purchasing power. With cognitive intelligence in their toolbelts, sourcing teams can better understand and act on changes in the increasingly complex supplier market—as they happen.

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Jaggaer

FEBRUARY 5, 2025

It is a process that creates efficiencies across all spend categories, minimizes supply chain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. emergency purchases and b.) those purchases which do not have a significant impact on operational continuity or the bottom line.

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Pipefy

JANUARY 31, 2023

Why purchase request approval is important The purchase requisition approval process is the final layer of review that’s required for all purchase requests. Once purchase requisitions are processed and approved, a purchase order is generated and submitted to the vendor or supplier for fulfillment.

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Spend Matters

JUNE 24, 2024

Yet buyers agonize over purchasing a car — with good reason. What are you hoping to achieve with this purchase, and what essential components will deliver this result? Orchestration : Beyond the technical aspects, how does the system handle data harmonization, task handover and visibility, and automation?

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Spend Matters

SEPTEMBER 14, 2023

What we do know is that supply chains often account for more than 90% of a company’s environmental footprint, and SAP can help provide visibility into the data across this value chain. We also know that the C-suite is increasingly looking at procurement leaders to play an essential role in helping companies achieve their ESG goals.

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Procurement Software

MAY 16, 2023

Ask yourself when reading other similar articles whether this is also true of them… And now, we give you 11 Procure-to-Pay software solutions for the mid-market. Onventis Onventis provides a Procure-to-Pay module for buyers that streamlines the procurement process from purchasing to payment.

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Procurement Software

JULY 18, 2023

When you think of the best purchasing software solutions for SMEs, or procurement tech in general, you probably think “expensive” This list of 15 procurement tools specifically targeted to smaller and growing businesses will prove it’s not so. It gives you full visibility of your spend data, all in one place.

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Supply Chain Game Changer

MARCH 28, 2020

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. But there is a profoundly significant Procurement value chain. This has been a long standing view of Procurement and in many cases is how many still view Procurement today. Procurement 101.

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Pipefy

JANUARY 4, 2023

But the inherent complexity of the procurement process means that it’s also prone to inefficiencies, errors, and broken handoffs. That makes procurement automation more important than ever. Escalating supply-chain volatility and inflation put pressure on procurement teams to “do more with less.” Containing costs.

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World of Procurement blog

MAY 20, 2024

Contract lifecycle management (CLM) software has become an invaluable tool for procurement teams looking to optimize their contracting processes. A dedicated CLM platform provides the automation, control, and analytics procurement teams need to maximize the value of contracts while minimizing risk.

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Pipefy

JANUARY 31, 2023

Procurement risks occur as a result of unreliable purchasing and P2P processes. The procure-to-pay (P2P) process , also sometimes referred to as purchase-to-pay, is a structured workflow that involves receiving goods or services and issuing payments. Procurement risks occur wherever visibility and control are limited.

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Pipefy

OCTOBER 24, 2023

For all industries and companies of all sizes, purchasing plays a critical role in helping teams operate effectively. This process is fundamental for increasing efficiency, saving money, and mitigating risks — and the impact of a broken purchase process is too costly to ignore.

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Pipefy

JANUARY 30, 2024

Teams will need to rely on greater investments in the right tools and technology to make these optimizations, from no-code automation to AI and data analytics. That’s where procurement, sourcing, and purchasing technology comes in. A good procure-to-pay software can seamlessly integrate with existing tech stack.

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Pipefy

MAY 23, 2023

In its long history , procurement has evolved from self-contained purchasing entities to an essential business partner handling processes involving several departments and many subprocesses. Below we’ll cover digital procurement solutions, essential features, and their benefits for optimized digital procurement workflows.

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Pipefy

FEBRUARY 3, 2023

Invoices provide procurement teams the ability to leverage information from past purchases to better inform future purchases. Automated invoice processing simplifies end-to-end invoice processing activities by eliminating the time and costs associated with manually processing invoices.

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Jaggaer

DECEMBER 13, 2024

Its an integrated, end-to-end process that unifies procurement and finance, helping organizations streamline purchasing, minimize delays, and ensure timely payments. A well-managed P2P process improves operational efficiency, controls costs, and enhances compliance with procurement policies.

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Pipefy

FEBRUARY 13, 2023

A company’s procurement department is driven by various processes and teams, including purchasing and accounts payable. Here’s everything you need to know about source-to-pay, from what it looks like in practice to how source-to-pay automation can improve procurement efficiency. When is source-to-pay used?

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Pipefy

JANUARY 5, 2023

Companies that still rely on manual procurement processes are at a competitive disadvantage. That’s because manual procurement processes tend to be inefficient, fragmented, and error-prone. Fortunately for procurement teams, the shift from manual to digital procurement has never been easier or more cost-effective.

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Claritum

NOVEMBER 16, 2018

Procurement is a complex multidisciplinary team activity that crosses all areas of the business. The variables and complexities of purchasing products and services, from basic supplies through to strategic purchases, make Procurement a key resource within the business. Introduction. Step 1 Remove the noise.

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Pipefy

JUNE 14, 2023

Key takeaways Spend data is the information related to a company’s spending, specifically goods and services purchased from external suppliers or vendors. Visibility into procurement categories and effective management of categories fosters benefits like greater risk management and less costly supplier redundancies.

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IBM Supply Chain Blog

DECEMBER 13, 2023

In addition, a well-crafted procurement framework fosters innovation and sustainability. It can nurture collaborative partnerships with suppliers and integrate ethical and environmental (green purchasing) considerations into the sourcing strategy. A procurement strategy is not merely a series of steps for acquiring goods and services.

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Zycus Cognitive Procurement

DECEMBER 10, 2021

A Source-to-Pay cycle is a holistic approach that covers end-to-end procurement lifecycle. And the S2P software enables multiple activities such as auctions, spend analysis, purchasing categories management, purchase requisitions, sourcing events, billing and vendor relations within the same solution.

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Arkestro

DECEMBER 12, 2022

What Are the Biggest Procurement Challenges in Health and Pharma? Beyond procurement teams working within the constraints of profit and cost savings, lives are at stake. Supply Chain Visibility. Supply chain visibility is another critical issue. Easy communication with suppliers is vital. Geographic Market Shifts.

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Pipefy

DECEMBER 20, 2023

For strategic procurement to be achieved, procurement teams will typically harness various techniques, tools, and technologies in order to collect and analyze their procurement data. With the analysis of supplier performance data, purchase managers can make decisions that benefit the company faster and more accurately.

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Supply Chain Game Changer

JULY 16, 2019

Prior to joining the Procurement team I had neither understood nor appreciated the importance of Supplier Relationship management. Companies find suppliers, negotiate prices and terms, place purchase orders and Suppliers fill those orders. end to end connectivity) with your systems You should recognize suppliers visibly.

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Pipefy

NOVEMBER 24, 2023

According to Amazon’s 2024 State of Procurement report, 95% of decision makers believe that procurement has room for optimization. In fact, 98% have plans for investments or upgrades in analytics and insights tools, automation, and AI-driven optimization of purchasing decisions. What are procurement tools?

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Supply Chain Game Changer

APRIL 23, 2019

The Procurement, or Purchasing, function is considered by many to be a necessary but non-strategic part of any organization. This is not to say that they believe Procurement doesn’t play a role, but rather that they don’t view Procurement as playing a critical role beyond cutting costs and finding suppliers.

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Arkestro

JUNE 6, 2023

Here are just a few of the metrics CFOs look at when examining procurement process efficiency: Cost of Purchase Order: What are the internal costs associated with each purchase? Purchases in Time and Budget: How many purchases are on budget and on time?

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Procurement Software

MAY 14, 2024

Key Takeaways: Why we need Intake and Procurement Process Orchestration Streamlining of Procurement Process: Process orchestration simplifies the intricate procurement process by automating and integrating each step from intake to procurement, ensuring operational efficiency and strategic alignment with business objectives.

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Procurement Software

MARCH 7, 2023

Then, with the growing popularity of Enterprise Resource Planning (ERP) systems such as SAP and Oracle during the late 1990s and early 2000s, converting requisitions into purchase orders (POs) was done electronically. Improvements to end-to-end supply chain efficiency. What is the difference P2P and S2P?

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Pipefy

JANUARY 11, 2023

In order to prepare for the next great disruption, a total overhaul of processes through procurement transformation is required to unlock a business that will not only survive but thrive as well. What is procurement transformation? What is a procurement transformation strategy? A profound break in how procurement teams work.

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Jaggaer

DECEMBER 13, 2024

Understanding P2P: The Core of Effective Procurement The procure -to-pay (P2P) process drives purchasing efficiency for organizations of all sizes, covering every stage from initial requisition to final payment. A user-friendly, cloud based P2P system ensures adoption and fosters company-wide visibility and efficiency.

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Procurement Software

JULY 4, 2023

It also provides real-time data and analytics that can be used to improve purchasing decisions. Digital procurement can be implemented using different technologies, which we will explore in detail later in this article. These in turn can be used to inform better purchasing decisions and improve operational efficiencies.

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Pipefy

JUNE 15, 2023

Build a more efficient procurement with the Definitive Guide to P2P Optimization Download free guide What is cloud procurement? A cloud-based procurement system is a fully integrated solution that streamlines the way procurement teams operate and automate procurement processes.

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Pipefy

MAY 9, 2023

Build a more efficient and connected procure-to-pay process with The Definitive Guide to P2P Optimization Importance of procurement KPIs Procurement has evolved over the years from transactional functions (now associated with purchasing) to encompass strategic activities focused on maximizing and creating value for a business.

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